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Friday, January 1, 2010

Mutual fund under management stands at IDR113 trillion

as published in Bisnis Indonesia daily newspaper
Thursday, 31/12/2009 00:00 WIB
Mutual fund's NAV beat record, stands at IDR113 trillion

JAKARTA: The net asset value (NAV) of mutual fund under management by end of 2009 hit the highest along the history recording IDR113.72 trillion as it was reached end of February 2005.

Data of the Capital Market and Finance Institution Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) shows the NAV of mutual fund stands at IDR113.17 trillion December 28, 2009. The figure excluded the private equity funds (RDPT) as the special goal mutual fund for investment manager.

The statistics also depicts the Bapepam-LK recorded 37 RDPT products so as totaling 66 products. Assuming one product has minimum limit of wealth management is worth IDR25 billion, the total of RDPT at least stands at IDR1.65 trillion.

"The NAV data excludes the RDPT. If added, it will hit the highest amount (along the history)," said investment management bureau chief of Bapepam-LK Djoko Hendratto yesterday. But he failed to explain the amount of RDPT managed by the investment managers.

NAV booked by mutual fund industry stood at IDR113.17 trillion by end of the year and it grew 51.03 percent as from the current position of IDR74.93 trillion last year. The wealth management last year dropped from IDR97.04 trillion end of July due to the global economy crisis.

Along with the soaring mutual fund performance, the market capitalization of IDX stocks also mounted drastically 86.41 percent from the level of IDR1,076.5 trillion last year into IDR2,006.7 trillion this year.

President director of IDX Ito Warsito said the mounting market capitalization value also reflected the rise of Jakarta Composite Index (JCI).

The stock index grew by 86.94 percent from 1,355.4 last year into 2,534.36 yesterday and that was deemed the second largest of Asia Pacific. The swelling index here also shows the highest annual growth since 1993.

However, the rise here goes along with the declining transaction value on the same period. The stock exchange authority recorded the decline of the total of transaction value by 8.6 percent from IDR1,064.5 trillion last year into IDR973 trillion this year (up to December 29).

The plummet also happened to the average stock daily transaction volumes by 8.9 percent and to the corporate bonds by 28 percent.

Chief of Bapepam A. Fuad Rahmany said the total stock transaction value up to December 29 stood at IDR973 trillion or declined from IDR1,064.5 trillion in 2008.

Finance Minister Sri Mulyani Indrawati reminded the investors and capital market players to the possible saturated market next year given that overseas investors might take their investments from developing countries.

"Theoretically the rise here has been bubbling but world fiscal policy will not be always that way. We should take it into our consideration." (Bisnis/bpj/21)

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